Renewables to be over 60% of India’s generation capacity: Piyush Goyal

Enthused by drop in renewable energy tariff, Power Minister Piyush Goyal today said India’s 60-65% of installed power generation capacity will be green energy.

“Going by prices we have discovered, I am inspired to say that 60-65% of India’s installed capacity base will be green energy,” Goyal said at Take Pride event organised by CII.

He further said, “India’s renewable energy programme is a great example of how you can do big by thinking big.”

Earlier this month, Goyal had predicted that India’s solar power generation capacity will cross 20,000 MW in the next 15 months, from the current 10,000 MW, and said drastic reduction in costs of solar power is proof of maturity of the sector.

Lower capital expenditure and cheaper credit have pulled down solar tariff to a new low of Rs 2.97 per unit in an auction conducted for 750 MW capacity in Rewa Solar Park in Madhya Pradesh last month.

The auction was conducted by a joint venture of Madhya Pradesh government and the Solar Energy Corporation of India (SECI).

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